Watts Water Technologies, Inc. Releases its 2023 Sustainability Report
Watts Water Technologies (NYSE: WTS) has released its 2023 Sustainability Report, showcasing its commitment to environmental, social, and governance (ESG) practices. The report highlights several key achievements, including a new target to reduce absolute carbon emissions by 30% by 2034. Watts has also introduced measurable goals across four strategic pillars: Footprint, Handprint, Social Responsibility, and Corporate Governance. Over the past decade, the company has reduced global water usage by over 100 million liters, surpassing its initial goal by achieving a 62% reduction in water use intensity since 2018. In partnership with the Planet Water Foundation, Watts has provided clean water to over 70,000 people in nine countries. The company has received accolades such as America's Greenest Companies by Newsweek, America's Climate Leaders 2023 by USA Today, and America's Most Responsible Companies for the fifth consecutive year. Watts was also named among the Top Places to Work in Massachusetts in 2023 by The Boston Globe.
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“For the past 150 years, our mission has been driven by the belief that safeguarding water isn’t just a business endeavor, it’s an obligation,” said Robert J. Pagano, Jr., CEO, President, and Chairperson of the Board. “In 2023, we continued to integrate sustainability at every level of our business, and we’re proud of the advancements we’ve made throughout our supply chain and operations, in our approach to product strategy and design, and through engagement with our employees and communities. We know that our actions have a ripple effect, and we will continue working with urgency to preserve our world’s most precious resource – water – for generations to come.”
Key Watts accomplishments highlighted in the report include:
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Established an absolute carbon emissions reduction target, a change from our previous approach of targeting reduced emissions intensity. By 2034, our goal is to reduce our absolute carbon emissions by
30% . - Expanded our sustainability performance goals by adding measurable and timebound goals across all four pillars of our strategy: Footprint, Handprint, Social Responsibility, and Corporate Governance. We developed these goals with the intent to better drive our performance across the entire spectrum of our sustainability strategy.
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Reduced global water usage at our facilities by over 100 million liters over the past 10 years. This achievement far surpassed our original goal to reduce water use intensity by
3% annually — or a total of15% by 2023 — and represents a62% reduction in water use intensity since 2018. Still, as a global leader in water stewardship, we have committed to continue to target3% annual reductions through 2026. - Provided clean water access to vulnerable communities through our ongoing partnership with Planet Water Foundation, which to date has benefited more than 70,000 people in nine different countries.
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Recognized as one of America’s Greenest Companies by Newsweek, selected as one of America’s Climate Leaders 2023 by
USA Today and earned Newsweek's designation as one of America’s Most Responsible Companies for the fifth consecutive year, ranking among the Top 600 from 2,000 majorU.S. firms across 14 industries. We achieved No. 50 overall and third in the industry, the highest ranking in five years of recognition. - Named one of Top Places to Work Massachusetts 2023 (North Andover Headquarters) by The Boston Globe – a result of the incorporation of inclusivity as one of our strategic pillars, cultural behaviors, and global performance management, which is helping to build a high-performance, values-driven culture that welcomes and celebrates every team member.
To download Watts’ 2023 Sustainability Report or learn more about the Company’s sustainability programs, visit http://www.watts.com/our-story/sustainability.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240702976951/en/
Watts Water Technologies, Inc.
Diane McClintock
Senior Vice President FP&A and Investor Relations
Telephone: 978-689-6153
Email: investorrelations@wattswater.com
Source: Watts Water Technologies, Inc
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